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E-commerce - Essay Example

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E-commerce refers to the use of modern communication technology and computer systems to exchange information, payments, goods and services over the electronic network. E-commerce has enabled many organizations overcome the challenges of conventional commerce by expanding the…
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E-commerce E-commerce refers to the use of modern communication technology and computer systems to exchange information,payments, goods and services over the electronic network. E-commerce has enabled many organizations overcome the challenges of conventional commerce by expanding the global market share and eliminating the entry barriers in new markets. E-commerce has reduced costs and time spent of supply chain activities.
E-commerce
Introduction
Electronic commerce is the use of technology to perform business process activities that entail the exchange of information, products and services across an electronic network at any stage in the supply chain (Pankaj, 2005). The emergence has been facilitated by the evolution of internet, communication infrastructures and computer systems. The increase in internet content like text messaging and multimedia and support services such as online catalogues, security systems and payment settlement systems have also supported the growth in e-commerce (Pankaj, 2005). Many global organizations have adopted e-commerce in order to increase their market share, create new online subsidiaries, attain a competitive edge in the market, reduce the entry barriers in the global market and reduce the costs of doing business. E-commerce has evolved from the transaction level business to a relationship based business that is characterized by two way communications with full integration of internet capabilities in to the business (Pankaj, 2005).
E-commerce offers several benefits to business organizations, customer sand suppliers. For instance, e-commerce will reduce the costs of creating, processing, distributing and storing good and services (Pankaj, 2005). Business organizations can reduce business overheads involved in selling over the supply chain and the time spent between the outlay of capital and the time the goods and services are received. E-commerce will create a competitive edge for business organizations and enhance the business reputation through improved, new found business opportunities, increased flexibility, enhanced customer service and reduced supply chain time (Laudon & Traver, 2010).
The customers will benefit from increased convenience in shopping since they can access goods and services 24 hours a day at the comfort of their location (Pankaj, 2005). Customers can easily access the recent product information within a short period of time and access a wide variety of commodities. E-commerce had facilitated competition, which has led to new innovative products and discounts to the customers. Customers can interact with each other over the electronic community and exchange ideas and experiences thus leading to better customer service from the suppliers (Pankaj, 2005). The sellers have been able to overcome structural, time and location barriers in reaching their target markets. On the other hand, the society has been able to benefit from e-commerce through easy access of government services such as health services, e-learning and reduction in need of travelling and pollution in the society which is associated with conventional commerce (Laudon & Traver, 2010).
However, e-commerce has not come without any challenges. Some of the limitations of e-commerce include inadequate communication protocols and security systems and insufficient telecommunication bandwidth in some economies (Pankaj, 2005). Another challenge is the difficulties experienced in integrating e-commerce in existing databases and operating systems of the organization. Other non-technical limitations may include lack of trust, customer privacy issues, copyright issues and legal issues such as taxation requirements by the government (Pankaj, 2005).
Electronic market places include both the sale site market place and buy site market site and the public electronic market places which are owned and run by independent third parties (Pankaj, 2005). Some requirements of a well functioning electronic market place include convenient order forms, payment mechanisms, and customer feedback forms and secure communication platform for transmitting payment information (Pankaj, 2005). Business transaction information such as invoices, requests for quotations and shipping notices can be transmitted over the internet to all trading partners since e-commerce systems can track and a confirm delivery of good and payments (Laudon & Traver, 2010).
Conclusion
E-commerce has eliminated location barriers involved in conventional trade and enhanced the customer convenience in exchange of information, payments, and goods over the electronic systems. Some digital products such as music allow for quick delivery thus reducing the operating costs and supply chain delivery cycle.
References:
Laudon, K. C & Traver, C.G. (2010). E-commerce 2011. New Jersey. Prentice Hall.
Pankaj, S. (2005). E-commerce. New Delhi. A.P.H publishing. Read More
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